Bank Of Baroda Signs MOU With Software Technology Parks Of India To Support Startups

Bank of Baroda, one of the country’s largest public sector banks, signed a memorandum of understanding (MOU) with Software Technology Parks of India (STPI) and AIC STPINEXT Initiatives to support startups across India under its Baroda Startup Banking program.

Under this program, 15 dedicated startup branches are operational across the major startup hubs viz. Gurugram, Delhi, Noida, Bengaluru, Chennai, Mumbai, Jaipur, Ahmedabad, Pune, Hyderabad, Chandigarh, Lucknow, Kolkata, Indore and Kochi.

Key offerings under Baroda Startup Banking are as follows:

a) Dedicated and trained bank officials viz Startup Champs and Relationship Managers who will be a single touch point
b) Bouquet of tailored made banking products designed exclusively for startups
c) Array of services provided at preferential rates by marquee service providers in the field of cloud computation, co-working spaces, taxation, accounting, legal, etc.

Speaking on the MoU, Akhil Handa, Chief Digital Officer, Bank of Baroda said “2020s is the decade of startups and as a leading financial institution, we are continuously working towards designing innovative banking products and services, which meets the unique and specialized banking requirements of startups. This has led to our partnership with STPI & STPINEXT, which have emerged as one-of-their-kind enabler for innovative startups pan India. Through this partnership, we will together fuel the growth of startup ecosystem in India.”